Artworks Foundation

Analysis

Artworks Foundation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in May 2012, 14 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Artworks Foundation reported income of $507k and spending of $523k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $313k to $507k (+62%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 130%. Over the whole period it spent 100% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Artworks Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within TN. Charities of a similar size with the same main cause include Harold B and Elizabeth L Shattuck Memorial Fund ($507k), Petit Family Foundation ($507k) and Gathering Humanity Inc ($506k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $39k (7.5% of expenses). At year end it held assets of $76k against liabilities of $63k, net assets of $13k.